Copper seeks to sell the company at a valuation of approximately $500 million, with Cantor Fitzgerald assisting the sale

Odaily星球日报讯 According to sources familiar with the matter, cryptocurrency custody company Copper is seeking to sell the company at a valuation of approximately $500 million, and investment bank Cantor Fitzgerald has been appointed to assist in the sale. Copper's core asset is the ClearLoop settlement system, which allows network participants to complete delivery-versus-payment (DVP) settlements within custody without needing to move assets on-chain, thereby reducing settlement risk. Copper closed its corporate custody business in 2023, shifting focus to ClearLoop for servicing institutional clients. Copper had considered an IPO earlier this year, but with Bitcoin trading below $80,000 and the AI sector attracting most of the capital, the crypto IPO market has seen limited progress this year. (CoinDesk)